TABLE 8-8 the President of a University Would Like to Estimate the Estimate

question 170

True/False

TABLE 8-8
The president of a university would like to estimate the proportion of the student population who owns a personal computer. In a sample of 500 students, 417 own a personal computer.
-Referring to Table 8-8, we are 99% confident that the average number of the student population who own a personal computer is between 0.7911 and 0.8769.

---

Definitions:

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate manufacturing overhead to products based on a certain activity base.

Customizing Department

A specialized department in a company that modifies products to meet specific customer requirements or preferences.

Direct Labor-Hour

A direct labor-hour is a unit of measure representing the labor time directly involved in the production of goods.

Predetermined Overhead Rate

A rate calculated before the period begins, used to allocate overhead costs to products based on a certain activity base, such as labor hours or machine hours.